User Guide

Tutorials
Getting Started Guide
100
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The Accounting Behind the Screens window displays journal entries that
will be posted if this transaction is saved; it provides a preview of what
will happen when the transaction is recorded.
The default account that is selected for each line item is 12000—
Inventory. This default comes from the inventory item list and or default
information set up in Maintain Inventory Items. The accounts payable
account also appears. You have the opportunity to change these account
IDs, if necessary, but usually you would accept the default.
The Accounting Behind the Screens window displays debit and credit
information for each line item. Since Peachtree is a double-entry
accounting system, all the accounting distributions are automatically
done for you, behind the scenes. Whenever you need to see this
accounting information, select the Journal button.
16 Since we do not need to make any changes, select the OK button to return
to the Purchases/Receive Inventory window.
Posting Purchase Transactions
Most entries made in the Purchases/Receive Inventory window are debits.
The offsetting credit is made to the Accounts Payable account (in accrual
accounting). The credit to Accounts Payable is made to the A/P account that
appears on this Purchases/Receive Inventory window.
17 Select Post to record the Purchase invoice.
The purchase is recorded and the proper accounts are distributed to the
General Ledger. Inventory is also updated.
You return to the Purchases/Receive Inventory window.
Note: You cannot print purchase invoices, only purchase orders.
18 Close the Purchases/Receive Inventory window by pressing q.